USA Mega

Vermont Powerball Jackpot Annuity Payout Schedule for Oct 16, 2021

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The tax information provided here is based on 2021 federal marginal rates and state tax rates.  It shows the final federal and state tax burdens each year, not the amount initially withheld by the lottery.

The Powerball annuity jackpot is awarded according to an annually-increasing rate schedule, which increases the amount of the annuity payment every year.  The table below shows the payout schedule for a jackpot of $60,000,000 for a ticket purchased in Vermont, including taxes withheld.

Please note, the amounts shown are very close approximations to the amount a jackpot annuity winner would receive from the lottery every year.  They are not intended to specify the exact final tax burden, which may vary depending on how the winner chooses to invest or dispense their prize money, as well as deductions claimed.

State:

Vermont

Drawing Date:Sat, Oct 16, 2021
Jackpot:$60,000,000
Federal Tax:37% marginal rate
State Tax: 8.75%
Report:Powerball annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$903,086$298,214$79,020$525,852
2$948,240$314,921$82,971$550,348
3$995,652$332,464$87,120$576,069
4$1,045,435$350,883$91,476$603,076
5$1,097,707$370,224$96,049$631,434
6$1,152,592$390,531$100,852$661,209
7$1,210,222$411,854$105,894$692,473
8$1,270,733$434,243$111,189$725,300
9$1,334,270$457,752$116,749$759,769
10$1,400,983$482,436$122,586$795,961
11$1,471,032$508,354$128,715$833,963
12$1,544,584$535,568$135,151$873,864
13$1,621,813$564,143$141,909$915,761
14$1,702,904$594,147$149,004$959,753
15$1,788,049$625,650$156,454$1,005,944
16$1,877,451$658,729$164,277$1,054,445
17$1,971,324$693,462$172,491$1,105,371
18$2,069,890$729,932$181,115$1,158,843
19$2,173,384$768,224$190,171$1,214,989
20$2,282,054$808,432$199,680$1,273,942
21$2,396,156$850,650$209,664$1,335,843
22$2,515,964$894,979$220,147$1,400,838
23$2,641,762$941,524$231,154$1,469,084
24$2,773,850$990,397$242,712$1,540,742
25$2,912,543$1,041,713$254,848$1,615,982
26$3,058,170$1,095,595$267,590$1,694,985
27$3,211,079$1,152,171$280,969$1,777,938
28$3,371,633$1,211,576$295,018$1,865,038
29$3,540,214$1,273,951$309,769$1,956,494
30$3,717,225$1,339,445$325,257$2,052,522
Total$60,000,000$21,122,164$5,250,001$33,627,832

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Note: The Net Payment total above may be a few dollars off from the total after-tax annuity amount shown on the Jackpot Analysis page because the Jackpot Analysis page shows an average annual payment, whereas we calculate an exact payment here.